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Interior Minister: Partial resumption of oil production in the Kurdistan Region and its protection from drones is a condition for companies

The Interior Minister of the Kurdistan Region, Rebar Ahmed, confirmed on Thursday that some oil companies operating in the region have resumed crude oil production in Kurdistan’s fields, while others remain shut down due to not receiving the security guarantees they are demanding. Financialnews alerts

Ahmed told reporters in Erbil, including a correspondent from Shafaq News Agency, that the companies did not receive those guarantees of providing anti-aircraft defenses to protect them from drone attacks, indicating that there is partial oil production in the region and exports go to the market.

The oil fields in the Kurdistan region were subjected to shelling by armed factions throughout the escalation of security and military tensions in the region, which led to oil companies suspending their operations and leaving the region.

After a period of relative calm, the federal government met with the regional government and company representatives, who in turn demanded that Baghdad secure the airspace to prevent a recurrence of such attacks, a demand to which Baghdad has not yet responded.

Regarding the withdrawal of the international coalition forces, the minister said that, according to the agreement concluded between Baghdad and Washington, those forces will withdraw from Iraq at the end of this month, and have already begun the daily withdrawal process from the country, including the Kurdistan Region, adding: “It is expected that no foreign forces will remain by the end of September.”

He explained that the issue of security and stability in Iraq requires cooperation and joint coordination with partners in the international coalition, federal forces, and regional forces, all of whom have an interest in establishing security in Iraq. He expressed his opinion that communication with the foreign forces participating in the international coalition should continue after their withdrawal, explaining that the issue of security is indivisible and is a general concept, and Iraq still needs the help of these friends.

Shafaq.com

The Kurdistan Regional Government details the results of its negotiating delegation’s talks with the Ministries of Finance, Planning, and Oil in Baghdad.

The Kurdistan Regional Government announced on Thursday that its high-level negotiating delegation, which is currently visiting Baghdad, began its work program and meetings with the relevant ministries in the federal government on September 9, with the aim of participating in the preparation and drafting of the draft federal budget law for 2027, and establishing the region’s constitutional and financial share and entitlements.

The regional government stated in a statement that the first meeting was with the federal finance minister, where the delegation held a meeting with the federal finance minister and acting planning minister, Faleh al-Sari.

During the meeting, the delegation from the region appreciated the participation of representatives of the Kurdistan Regional Government in the drafting stage of the draft budget law at the Federal Ministry of Finance as an important and positive step, and reviewed the Kurdistan Region’s visions and proposals regarding the draft law.

In this context, the need to establish the share and entitlements of the Kurdistan Region in a fair manner and on constitutional and legal grounds was emphasized, with the aim of establishing a stable and clear basis for regulating financial relations between the federal government and the regional government.

For his part, the Federal Minister of Finance welcomed the participation of the region’s delegation and stressed the importance of continuing dialogue and coordination. He also affirmed that the Federal Ministry of Finance, in light of the constitution and relevant laws, will deal fairly with the financial rights and entitlements of the Kurdistan Region.

The next meeting was with the Federal Ministry of Planning, where a delegation from the regional government visited the Federal Ministry of Planning, and a joint meeting was held with the attendance of the undersecretaries of the Ministries of Planning in the Federal Government and the regional government, and the directors general concerned with government investment.

During the meeting, the delegation from the region stressed that the Kurdistan Region deserves its share of investment project allocations according to the results of the latest general population census, as well as allocations for regional and provincial development projects and petrodollars.

The delegation also demanded that the Kurdistan Region be granted its share of international loans, aid, and grants, since the region bears, according to its share, the responsibility for repaying these loans and their interest; and on this basis, it should receive shares of them and their benefits.

For its part, the delegation from the Federal Ministry of Planning welcomed the proposals and expressed its readiness to discuss them during the preparation of the draft budget law, and both sides agreed to continue technical and legal coordination in this area.

Meeting with the Federal Ministry of Oil

This was a continuation of the visit program, as the Kurdistan Regional Government delegation visited the Federal Ministry of Oil and met with its minister, the undersecretary of the ministry, and the relevant directors general.

The meeting agenda was dedicated to discussing the paragraphs related to the oil sector in the draft federal budget law for 2027, including the total estimated quantities of oil allocated for export (including the fields of the Kurdistan Region), the estimated price per barrel of oil for the fiscal year 2027, and the quantities of oil allocated for domestic consumption.

The regional delegation confirmed that the oil produced in the region and designated for export will be delivered to SOMO, to be sold in global markets and its revenues transferred to the federal treasury; this constitutes an important step to enhance cooperation between the two governments and increase federal revenues.

For his part, the Federal Minister of Oil and the ministry delegation welcomed the observations and suggestions, and stressed the importance of continued coordination and joint work to reach a balanced and practical formulation of the oil items in the 2027 budget, in a way that ensures the continuity of oil production and export.

The meetings emphasized resolving common issues through dialogue, coordination, and adherence to constitutional and legal frameworks, with the aim of securing the rights and entitlements of the Kurdistan Region in the 2027 federal budget bill and strengthening financial and economic cooperation between the regional government and the federal government. Economicanalysis reports

The Kurdistan Regional Government delegation stressed the region’s commitment to fulfilling its constitutional and legal duties and obligations, while emphasizing the federal government’s responsibility to provide and secure the Kurdistan Region’s financial and constitutional share and rights, particularly the salaries and entitlements of the region’s employees, in a fair and equal manner to their counterparts in the rest of Iraq.

Shafaq.com

No loans or advances… Government banks have no liquidity.

An informed source revealed on Thursday that most government banks have stopped granting loans and advances of all kinds, attributing this to the lack of financial allocations and the lack of sufficient liquidity in those banks . Dailynews subscription

The source told Shafaq News Agency that the decrease in the volume of deposits and the decline in liquidity levels have directly affected the ability of government banks to provide loans and advances, as well as investment loans allocated to finance projects and residential complexes in Baghdad and the provinces .

He added that the decline in banking liquidity has reduced the ability of banks to continue financing various credit and investment activities, which may affect the flow of financing and support for housing and development projects .

Shafaq.com

The first official Iraqi stance on the weapons of the factions: “It will be resolved quickly after September 30th.”

The spokesman for the Commander-in-Chief of the Armed Forces, Sabah al-Nu’man, confirmed on Thursday that restricting weapons to the state is an “Iraqi sovereign matter,” indicating that the government is dealing with armed factions on this issue through dialogues taking place at the highest levels, while expecting the matter to be resolved after the end of the international coalition’s mission. Dailynews subscription

Al-Nu’man told Shafaq News Agency: “After the end of the international coalition’s mission, there will be an acceleration in resolving this issue, because all justifications for the presence of weapons after September 30 will have disappeared,” stressing that “our security forces are ready and on high alert to ensure Iraqi national security and protect Iraqi sovereignty.”

He explained that “the process of regulating weapons under the umbrella of governmental legitimacy will end in record time,” noting that the government has “confidence in the direction and goal of these factions to protect the security of Iraq, as the goal is one: a stable Iraq and that weapons be in the hands of the Iraqi security forces.”

The issue of armed factions is one of the most sensitive issues facing the Iraqi government, with the approach of September 30, which the main political forces have set as the deadline for restricting weapons to official institutions.

The State Administration Coalition, which includes the most prominent Shiite, Sunni and Kurdish political forces, stressed during its meeting on August 5 the need to restrict weapons to the state, and considered the parties that carry out activities that threaten the security of the country outside the framework of official institutions as “outlaws and must be fought.”

The coalition warned that any armed activity outside the framework of the state after September 30 would be dealt with according to the anti-terrorism law.

The September 30th date also coincides with the deadlines related to ending the international coalition’s military presence in Iraq, which some factions use as a basis for linking the future of their weapons to the withdrawal of foreign forces.

Shafaq.com

The Badr bloc expects the completion of the cabinet to be finalized after al-Zidi’s tour to Europe.

MP Qusay al-Shabaki, from the Badr parliamentary bloc, predicted on Thursday that the issue of completing the cabinet would be resolved after the tour that Prime Minister Ali al-Zubaidi is expected to conduct to Europe in mid-September.

Iraqi government spokesman Haider al-Aboudi announced in late August that al-Zaidi would be heading to France and Germany on an official visit in the middle of this month, explaining that the visit aims to diversify foreign relations and discuss a number of issues, including the security file. Iraqpolitical news

Al-Shabaki told Shafaq News Agency that “the Coordination Framework and other political blocs are working to complete the cabinet in coordination with the Prime Minister,” stressing that “previous meetings of the Framework and the State Administration witnessed discussions on completing the cabinet and resolving this issue as quickly as possible.”

He added that the current dispute is focused on naming people to assume ministerial portfolios in Ali al-Zaidi’s government, specifically naming candidates for the security ministries (Defense and Interior), in addition to a dispute over naming a candidate for the Ministry of Migration and Displacement.

Al-Shabaki added that resolving this issue and putting forward the names of candidates for the remaining nine ministries will wait until after Prime Minister Ali al-Zaidi’s visit to Europe.

On May 14, the Iraqi parliament voted to grant confidence to Ali al-Zaidi’s government and its ministerial program with 14 ministers, while the vote on the remaining 9 ministries was postponed until further notice due to the continuation of political disputes over the distribution of portfolios, amid reports of international warnings against the inclusion of armed factions in the new ministerial formation.

The coordination framework had authorized Prime Minister Ali al-Zaidi to make contacts with the heads of the political blocs and entities participating in the government, whose candidates for the vacant ministries have not yet been decided.

Shafaq.com

MP: The 2027 budget will include regularizing contracts and daily wages, with the exception of Kirkuk and Salah al-Din.

MP Mohammed Al-Nuaimi, from the Al-Azm Alliance, announced on Thursday that next year’s budget will include a clause regarding the permanent employment of contract and daily wage workers, while holding the Kirkuk and Salah al-Din governments responsible for the shortcomings in this matter. Dailynews subscription

Al-Nuaimi said during a press conference held at the Parliament building, which was attended by a correspondent from Shafaq News Agency, that a delegation from the Al-Azm Alliance visited the Ministry of Finance to discuss the articles of the federal general budget for the year 2027, “which are in the process of being prepared in preparation for sending it to the Council of Ministers to vote on it and then sending it to the Parliament, and it is hoped that it will be approved before the end of the current year.”

He explained that one of the important items in the budget is the government’s direction and initial approval to stabilize contracts and daily wages in all state ministries, “and this is an important entitlement and they will be treated fairly in the budget.”

He pointed out that “there are segments that were not included in the budget law, including a section of the provincial contracts that did not complete the procedures, including Kirkuk and Salah al-Din,” holding the provincial administrations “responsible and negligent towards establishing the contracts on the permanent staff in the budget law.”

Shafaq.com

The Central Bank sends a message to depositors of Al-Taif Bank: Withdrawals will be gradual and organized.

On Tuesday, the Central Bank of Iraq reassured depositors of Al-Taif Islamic Bank that their financial rights are protected, stressing that imposing guardianship on the bank comes within supervisory and preventive measures aimed at protecting depositors’ funds.

The Central Bank stated in a statement received by Shafaq News Agency that “the rights of depositors of Al-Taif Islamic Bank are preserved,” explaining that “imposing guardianship on the bank is a preventive supervisory measure aimed at protecting depositors’ funds and preserving their rights, and ensuring the stability and continuity of banking operations in accordance with applicable regulations and instructions.” Financialnews alerts

He added that “the bank is working in coordination with the appointed trustee to take the necessary measures to enhance its liquidity and regulate withdrawal operations and fulfill its financial obligations in a gradual and organized manner, in a way that ensures these operations are managed in accordance with the approved supervisory priorities.”

He pointed out that the procedures will prioritize the salaries of employees whose accounts are held at the bank, within a plan to regulate withdrawal operations and fulfill financial obligations, stressing that the measures taken come within the framework of his supervisory responsibility aimed at protecting the rights of depositors and enhancing confidence in the banking sector.

It is worth noting that Al-Taif Islamic Bank announced last Sunday that it would soon hand over the funds of its depositors, after the Central Bank of Iraq began taking over its administration.

A number of depositors demonstrated in front of Al-Taif Islamic Bank in the Karrada district of Baghdad on Sunday to protest the freezing of banking services and the suspension of withdrawal and deposit operations, following measures taken by the Central Bank of Iraq against the bank.

The Central Bank of Iraq had decided to place Al-Taif Islamic Bank for Investment and Finance under guardianship for 18 months, due to violations that it said affected the bank’s financial position and depositors’ funds.

The Central Bank confirmed later yesterday that imposing guardianship does not mean the bank is bankrupt, but rather comes within precautionary supervisory measures aimed at protecting the rights of depositors, noting that depositors’ funds are protected under applicable laws and regulations.

Shafaq.com

Al-Amshani: The American withdrawal will bring large and reputable companies into Iraq.

MP Sakr Al-Amshani, from the Sadiqun bloc, confirmed on Tuesday that the American withdrawal from Iraq will contribute to strengthening the investment environment and opening the way for large and reputable companies to enter the country, within the agreements and guarantees put in place by the government. Iraqeconomic analysis

Al-Amshani told Al-Maalouma News Agency that “companies will enter Iraq in greater numbers after the American withdrawal, as indicated by the Prime Minister, especially since the government has put in place guarantees to protect investments and companies operating in the country.”

He added that “the American withdrawal represents an important step towards strengthening Iraq’s sovereignty, and it may open up broader horizons for international companies to enter into economic and investment projects, away from any concerns related to the foreign military presence.”

Al-Amshani pointed out that “the Ministry of Defense has developed a plan to develop defense systems and arm the Iraqi army, which will enhance its capabilities to protect the country and deal with security challenges, especially since the file of defending Iraqi sovereignty, airspace and borders represents a fundamental national responsibility.”

He explained that “strengthening Iraqi defense capabilities in conjunction with the American withdrawal will give security and military institutions greater ability to manage security matters and will enhance Iraq’s independence in protecting its airspace, borders, and sovereignty.”

Almaalomah.me

Al-Nasiri: An American veto is behind the delay in completing Al-Zidi’s cabinet.

Bilal al-Nasiri, a member of the State of Law Coalition, confirmed the existence of an American veto preventing the completion of the government cabinet. He pointed out that the political blocs have submitted their candidates to the Prime Minister to fill the vacant ministerial positions.

Al-Nasiri told Al-Maalouma, “The State of Law Coalition is striving to finalize the cabinet and ensure a vote on the candidates for the vacant ministerial portfolios in al-Zaidi’s government in order to alleviate the burden on ministers who are currently managing other positions in an acting capacity.”

He added, “There are those who link the completion of the government cabinet to the issue of the resistance’s weapons, as this matter will become subject to political bargaining driven by a foreign agenda against Iraq’s interests.”

He explained that “the Prime Minister has received the names of the candidates from the political blocs to complete his cabinet, and there is no longer any internal excuse preventing the filling of the vacant positions, except for what is being said about an American veto that Washington has placed in the way of completing the government, stipulating that the al-Zaidi cabinet be finalized in exchange for addressing the issue of the resistance’s weapons.” Iraqeconomic analysis

Almaalomah.me